Common use of Rights of Members Clause in Contracts

Rights of Members. No Owner shall have the right or power to: (i) withdraw or reduce its Capital Contribution, except as a result of the dissolution and termination of the Company or as otherwise provided in this Agreement or by law; (ii) bring an action for partition against the Company; or (iii) demand or receive property other than cash in return of its Capital Contribution. Except as provided in this Agreement, no Owner shall have priority over any other Owner either as to the return of Capital Contributions or as to allocations of the Net Income, Net Loss or Distributions of the Company. Other than upon the termination and dissolution of the Company as provided by this Agreement, there has been no time agreed upon when the contribution of each Owner is to be returned.

Appears in 6 contracts

Samples: Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.)

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Rights of Members. No Owner shall have the right or power to: (i) withdraw or reduce its Capital Contributioncontribution to the capital of the Company, except as a result of the dissolution and termination of the Company or as otherwise provided in this Agreement or by law; , (ii) bring an action for partition against the Company; Company or (iii) demand or receive property other than cash in return of for its Capital Contribution. Except as provided in this Agreement, no Owner shall have priority over any other Owner either as to the return of Capital Contributions or as to allocations of the Net Income, Net Loss or Distributions of the Company. Other than upon the termination and dissolution of the Company as provided by this Agreement, there has been no time agreed upon when the contribution of each Owner (other than the Initial Member) is to be returned.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.)

Rights of Members. No Member or Owner shall have the right or power to: (i) withdraw or reduce its Capital ContributionContribution to the Company, except as a result of the dissolution and termination of the Company or as otherwise provided in this Agreement or by law; (ii) bring an action for partition against the Company; or (iii) demand or receive property other than cash in return of its for his Capital Contribution. Except as provided in this Agreement, no Member or Owner shall have priority over any other Member or Owner either as to the return of Capital Contributions Contribu tions or as to allocations of the Net Income, Net Loss or Distributions of the Company. Other than upon the termination and dissolution of the Company as provided by this Agreement, there has been no time agreed upon when the contribution of each Owner Member is to be returned.

Appears in 3 contracts

Samples: Operating Agreement (Ridgewood Properties Inc), Operating Agreement (Ridgewood Properties Inc), Operating Agreement (Ridgewood Properties Inc)

Rights of Members. No Member or Owner shall have the right or power to: (i) withdraw or reduce its Capital Contributionhis contribution to the capital of the Company, except as a result of the dissolution and termination of the Company or as otherwise provided in this Agreement or by law; (ii) bring an action for partition against the Company; or (iii) demand or receive property other than cash in return of its for his Capital Contribution. Except as provided in this Agreement, no Member or Owner shall have priority over any other Member or Owner either as to the return of Capital Contributions or as to allocations of the Net Income, Net Loss or Distributions of the Company. Other than upon the termination and dissolution of the Company as provided by this Agreement, there has been no time agreed upon when the contribution of each Member (other than the Initial Member) or Owner is to be returned.

Appears in 2 contracts

Samples: Operating Agreement (NNN 2002 Value Fund LLC), Operating Agreement (NNN 2002 Value Fund LLC)

Rights of Members. No Owner shall have the right or power to: (i) withdraw or reduce its Capital Contribution, except as a result of the dissolution and termination of the Company or as otherwise provided in this Agreement or by law; (ii) bring an action for partition against the Company; or (iii) demand or receive property other than cash in return of its Capital Contribution. Except as provided in this Agreement, no Owner shall have priority over any other Owner either as to the return of Capital Contributions or as to allocations of the Net Income, Net Loss or Distributions of the Company. Other than upon the termination and dissolution of the Company as provided by this Agreement, there has been no time agreed upon when the contribution of each Owner is to be returned.. 8.6

Appears in 1 contract

Samples: Limited Liability Company Agreement (Cottonwood Multifamily Reit Ii, Inc.)

Rights of Members. No Member or Economic Interest Owner shall have the right or power to: (i) withdraw or reduce its Capital Contributionhis contribution to the capital of the Company, except as a result of the dissolution and termination of the Company or as otherwise provided in this Agreement or by law; (ii) bring an action for partition against the Company; or (iii) demand or receive property other than cash in return of its for his Capital Contribution. Except as provided in this Agreement, no Member or Economic Interest Owner shall have priority over any other Member or Economic Interest Owner either as to the return of Capital Contributions or as to allocations of the Net Income, Net Loss or Distributions of the Company. Other than upon the termination and dissolution of the Company as provided by this Agreement, there has been no time agreed upon when the contribution of each Member (other than the Initial Member) or Economic Interest Owner is to be returned.

Appears in 1 contract

Samples: Operating Agreement

Rights of Members. No Member or Owner shall have the right or power to: (i) withdraw or reduce its Capital Contributionhis contribution to the capital of the Company, except as a result of the dissolution and termination of the Company or as otherwise provided in this Agreement or by law; (ii) to the fullest extent permitted by law bring an action for partition against the Company; or (iii) demand or receive property other than cash in return of its for his Capital Contribution. Except as provided in this Agreement, no Member or Owner shall have priority over any other Member or Owner either as to the return of Capital Contributions or as to allocations of the Net Income, Net Loss or Distributions of the Company. Other than upon the termination and dissolution of the Company as provided by this Agreement, there has been no time agreed upon when the contribution of each Member (other than the Initial Member) or Owner is to be returned.

Appears in 1 contract

Samples: Operating Agreement (NNN 2003 Value Fund LLC)

Rights of Members. No Owner Member shall have the right or power to: (i) withdraw or reduce its Capital Contributionhis contribution to the capital of the Company, except as a result of the dissolution and termination of the Company or as otherwise provided in this Agreement or by law; , or (ii) bring an action for partition against the Company; or (iii) demand or receive property other than cash in return of its for his Capital Contribution. Except as provided in this Agreement, no Owner Member shall have priority over any other Owner Member either as to the return of Capital Contributions or as to allocations of the Net Income, Net Loss or Distributions of the Company. Other than upon the termination and dissolution of the Company as provided by this Agreement, there has been no time agreed upon when the contribution of each Owner Member (other than the Initial Member) is to be returned.

Appears in 1 contract

Samples: Operating Agreement (T Reit Inc)

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Rights of Members. No Owner shall have the right or power to: (i) withdraw or reduce its Capital Contribution, except as a result of the dissolution and termination of the Company or as otherwise provided in this Agreement or by law; , (ii) bring an action for partition against the Company; Company or (iii) demand or receive property other than cash in return of its Capital Contribution. Except as provided in this Agreement, no Owner shall have priority over any other Owner either as to the return of Capital Contributions or as to allocations of the Net Income, Net Loss or Distributions of the Company. Other than upon the termination and dissolution of the Company as provided by this Agreement, there has been no time agreed upon when the contribution of each Owner is to be returned.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Cottonwood Multifamily Opportunity Fund, Inc.)

Rights of Members. No Member or Owner shall have the right or power to: ----------------- (i) withdraw or reduce its Capital Contributionhis contribution to the capital of the Company, except as a result of the dissolution and termination of the Company or as otherwise provided in this Agreement or by law; (ii) bring an action for partition against the Company; or (iii) demand or receive property other than cash in return of its for his Capital Contribution. Except as provided in this Agreement, no Member or Owner shall have priority over any other Member or Owner either as to the return of Capital Contributions or as to allocations of the Net Income, Net Loss or Distributions of the Company. Other than upon the termination and dissolution of the Company as provided by this Agreement, there has been no time agreed upon when the contribution of each Member (other than the Initial Member) or Owner is to be returned.

Appears in 1 contract

Samples: Operating Agreement (T Reit Inc)

Rights of Members. No Member or Owner shall have the right or power to: (i) withdraw or reduce its Capital Contributionhis contribution to the capital of the Company, except as a result of the dissolution and termination of the Company or as otherwise provided in this Agreement or by law; (ii) bring an action for partition against the Company; or (iii) demand or receive property other than cash in return of its for his Capital Contribution. Except as provided in this Agreement, no Member or Owner shall have priority over any other Member or Owner either as to the return of Capital Contributions or as to allocations of the Net Income, Net Loss or Distributions of the Company. Other than upon the termination and dissolution of the Company as provided by this Agreement, there has been no time agreed upon when the contribution of each Member (other than the Initial Member) or Owner is to be returned.

Appears in 1 contract

Samples: LLC Operating Agreement

Rights of Members. No Member or Economic Interest Owner shall have the right or power to: (i) withdraw or reduce its Capital Contributionhis contribution to the capital of the Company, except as a result of the dissolution and termination of the Company or as otherwise provided in this Agreement or by law; (ii) bring an action for partition against the Company; , or (iii) demand or receive property other than cash in return of its for his Capital Contribution. Except as provided in this Agreement, no Member or Economic Interest Owner shall have priority over any other Member or Economic Interest Owner either as to the return of Capital Contributions or as to allocations of the Net Income, Net Loss Loss, or Distributions of the Company. Other than upon the termination and dissolution of the Company as provided by this Agreement, there has been no time agreed upon when the contribution of each Member (other than the Initial Member) or Economic Interest Owner is to be returned.

Appears in 1 contract

Samples: Operating Agreement

Rights of Members. No Owner Member shall have the right or power to: (i) withdraw or reduce its Capital Contributionhis contribution to the capital of the Company, except as a result of the dissolution and termination of the Company or as otherwise provided in this Agreement or by law; (ii) bring an action for partition against the Company; or (iii) demand or receive property other than cash in return of its for such Member's Capital Contribution. Except as provided in this Agreement, no Owner Member shall have priority over any other Owner Member either as to the return of Capital Contributions or as to allocations of the Net Income, Net Loss or Distributions of the Company. Other than upon the termination and dissolution of the Company as provided by this Agreement, there has been no time agreed upon when the contribution of each Owner Member is to be returned.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Terra Secured Income Fund 5, LLC)

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